Fed’s Waller fuels debate on larger rate hike after high inflation data

The central bank of the United States, which sets US interest rates and supervises banks.

Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.

The rate at which the general level of prices for goods and services rises over time, usually measured over twelve months.

When prices rise faster than wages, households can buy less with the same income, and central banks may raise interest rates in response.

The annual return an investor earns on a bond, which moves in the opposite direction to the bond's price.

Rising yields mean higher borrowing costs for governments, companies and home buyers.

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.